Zevin Asset Management LLC increased its position in AT&T Inc. (NYSE:T) by 4.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 249,498 shares of the technology company’s stock after acquiring an additional 9,593 shares during the period. AT&T comprises about 3.0% of Zevin Asset Management LLC’s investment portfolio, making the stock its 12th biggest holding. Zevin Asset Management LLC’s holdings in AT&T were worth $9,441,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of T. Nuveen Asset Management LLC grew its holdings in shares of AT&T by 1,723.1% in the second quarter. Nuveen Asset Management LLC now owns 46,051,038 shares of the technology company’s stock worth $1,543,169,000 after acquiring an additional 43,525,113 shares during the period. Vanguard Group Inc. grew its holdings in shares of AT&T by 1.2% in the second quarter. Vanguard Group Inc. now owns 563,398,685 shares of the technology company’s stock worth $18,879,489,000 after acquiring an additional 6,744,699 shares during the period. Morgan Stanley grew its holdings in shares of AT&T by 11.2% in the second quarter. Morgan Stanley now owns 59,058,549 shares of the technology company’s stock worth $1,979,052,000 after acquiring an additional 5,931,167 shares during the period. California Public Employees Retirement System grew its holdings in shares of AT&T by 18.1% in the third quarter. California Public Employees Retirement System now owns 28,020,401 shares of the technology company’s stock worth $1,060,292,000 after acquiring an additional 4,292,231 shares during the period. Finally, Covenant Multifamily Offices LLC bought a new stake in shares of AT&T in the second quarter worth $81,364,000. 52.94% of the stock is owned by institutional investors.
T has been the subject of several research analyst reports. Credit Suisse Group raised AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on AT&T from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Royal Bank of Canada lifted their price objective on AT&T from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday. National Bank Financial lifted their target price on AT&T from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Desjardins reiterated an “average” rating and set a $55.50 target price on shares of AT&T in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $40.74.
NYSE T traded down $0.04 on Friday, hitting $39.38. 18,270,257 shares of the company traded hands, compared to its average volume of 30,604,307. The company has a market capitalization of $287.75 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 2.47 and a beta of 0.64. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average price is $37.87 and its 200-day moving average price is $34.45. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $39.58.
AT&T (NYSE:T) last announced its quarterly earnings data on Monday, October 28th. The technology company reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. AT&T had a return on equity of 13.42% and a net margin of 8.97%. The business had revenue of $44.59 billion for the quarter, compared to the consensus estimate of $45.45 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The business’s revenue was down 2.5% on a year-over-year basis. As a group, sell-side analysts predict that AT&T Inc. will post 3.57 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.51 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.04 annualized dividend and a dividend yield of 5.18%. AT&T’s payout ratio is 57.95%.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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